alt Hacker NewsI’m pretty confused where you’re coming from. Stimulus checks were a one or two time payment of a couple thousand dollars, but stocks and corporate profits went absolutely parabolic.
The share of wealth owned by the richest people went up far more than the bottom 90 (or even 99) percent. The data absolutely supports this perspective as well: https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
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Yeah agree, share of wealth definitely went up for folks who had the money to be invested in the stock market.
My recollection is that some combination of stimulus checks / COVID dynamics made it much harder to hire low wage workers, so employers were "forced" to raise wages in response. At the same time, higher wage workers who got "normal" raises were not keeping up with inflation.
https://www.reuters.com/business/us-job-growth-picks-up-may-...
The stimulus was not just the checks, it was also pretty generous unemployment, and the discussion was about incomes of workers, not wealth.